DB Corp's ad revenue grows 18% (YoY) to Rs 482 crore in Q3 FY24

DB Corp’s consolidated ad revenue grew by 18.4% (YoY) to Rs 482 crore from Rs 407 crore in Q3FY24.

Its Q3FY24 circulation revenue was up 3.4% (YoY) to Rs 120 crore versus Rs 116 crore in the corresponding quarter of the previous year.

DB Corp reported revenue growth of 15.5% (YoY) to Rs 664.8 crore for the third quarter that ended December 31, 2023. Its Q3FY23 revenue was Rs 576 crore.

The company said that the decrease of 18.3% in the newsprint cost contributed to EBIDTA growth of 101.7% (YoY) to Rs 203 crore from Rs 101 crore.

Its PAT recorded a growth of 156.8% YoY to Rs 124 crore from Rs 48 crore in Q3 of the last financial year.

DB Corp’s radio business My FM reported revenue growth of 28.3 % (YoY) reaching Rs 46.4 crore versus Rs 36.2 crore in the corresponding quarter of the previous year. The radio business EBITDA grew by 55.6% (YoY) to Rs 18.3 crore versus Rs 11.8 crore.

The company, which publishes newspapers including Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar, opined that the quarter gone by also saw a fillip due to overall festival days and also due to economic buoyancy in key states due to election faze.

“The Digital Business continues to be a sharp focus area as an important pillar for future growth of our business. Our App has registered a tremendous growth from 2 million in January 2020 to around 13 million in Dec 2023 extending our leadership position,” the company stated.

Sudhir Agarwal, Managing Director, DB Corp, commented, “With a slew of positive events – Elections in our key markets, the Cricket World Cup, General economic buoyancy  in our markets and the festive season, our performance in Q3 FY2024 is a testament to all the efforts that we  continue to put to deliver the best product, and with an omni-channel delivery mechanism working well, we believe that we should be able to extend our leadership position and fortify our financial position going ahead.”

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